DealBook Online

By AZAM AHMED, EVELYN M. RUSLI and MICHAEL J. de la MERCED

Published: August 15, 2012

HEDGE FUND'S WOES Tiger Asia, a spinoff of Tiger Management, the hedge fund founded by Julian Robertson, told investors that it would be returning their money in the coming weeks. The move comes amid a three-year investigation by Hong Kong authorities into accusations of trading improprieties at the hedge fund, which was founded by Bill Hwang.The Securities and Exchange Commission has also been investigating the fund. Regulators have accused Mr. Hwang of obtaining inside information about placements of shares in the China Construction Bank Corporation and Bank of China, tips that regulators say earned him $5 million. AZAM AHMED

ELPIDA PROPOSAL Bondholders of Elpida Memory, the Japanese chip maker, reiterated its opposition to Micron Technology's $2.5 billion offer. The group -- Linden Advisors, LIM Advisors, Owl Creek Asset Management and Taconic Capital Advisors --provided an alternative plan, which includes a loan of 30 billion yen, or $380 million, to the company. The proposal values Elpida at no less than $3.8 billion.

EVELYN M. RUSLI

I.P.O. PLANS Safety-Kleen, a re-refiner of used oil and a provider of parts-cleaning services, said that it planned to raise $400 million in an initial public offering, although that it is a figure used to calculate the registration fee.

Safety-Kleen was a publicly traded company when it was acquired in 1998 by Laidlaw of Canada. Amid questions about its accounting practices, the Safety-Kleen unit filed for bankruptcy in 2000. It emerged from bankruptcy in 2003, and JPMorgan Chase became a major shareholder.

GETTY IMAGES BIDDING The Carlyle Group has taken the lead in the bidding for Getty Images, the photo-images service, two people briefed on the matter said. Carlyle has been competing with other private equity firms to buy Getty from Hellman & Friedman. A sale may be worth at least $3.3 billion, these people said. MICHAEL J. de la MERCED